XI'AN, China, March 28 /Xinhua-PRNewswire-FirstCall/ -- ALONG Mobile Technologies Inc. (OTC: AGMB), a leading provider of wireless interactive entertainment products and services to customers in China, today announced its new capital expenditure program that will entail spending USD4.0 million to expand its downloading terminals network by 2000. This expansion will be carried out in Anhui province with a population of more than 70 million, including some of China's largest cities such as He Fei, Wu Hu and Bang Bu city. The network will be expanded by 2000 and will be operational by the third quarter this year.
As of 20th of March, ALONG signed manufacturing agreements with Feiyang Industry & Trade Co., Ltd and three other companies to produce 2000 downloading terminals and deliver them before 30th of June. As ALONG has planned, these terminals will be located in Anhui Province to open and develop the new market and also to enhance our network coverage in the eastern part of China.
Mr. Li Jianwei, CEO of ALONG Mobile, stated, "The expansion of the additional 2000 terminals in Anhui province is highly meaningful in several aspects. On the on hand we can practice our marketing strategy and observe the operating performance in these specific regions, as a foundation to ensure our further success in expanding to the more competitive markets, especially to coast of China. We can also promote and enhance our brand-awareness to absorb more diversified customers and expand our customer-base, especially we can obtain more customers-especially as references to update and produce more customer-oriented products to refine our resource development."
Wang Zhen, CFO of ALONG Mobile commented, "The expansion will also significantly increase our daily cash generation as well as the operating revenue. This expansion increases our number of terminals by approximately 100% and thus we anticipate our revenues to increase by at least 50%."
Forward-looking statement
Certain information contained in these materials is "forward-looking" information, such as projections, estimates, pro formas, or statements of intentions, expectations or plans. All forward-looking information is subject to known and unknown risks and uncertainties, many of which are outside of the control of the company. Consequently, actual results may, and probably will, differ materially from the results contemplated in such forward-looking information.
About ALONG
ALONG Mobile Technologies, Inc. is a mobile value-added services provider in the PRC. The Company designs, produces, publishes, manufactures, provides and distributes proprietary wireless entertainment applications such as ring-tones, games, images, videos and e-books to its customers. Our Wireless Applications are intended to be downloaded by our customers on a fee-basis by means of our proprietary public downloading terminals which are installed by us in strategic locations such as shopping centers, universities, entertainment centers, cinemas, hotels, airports, restaurants and parks. Interaction enriches your life. For more information about ALONG, please visit http://www.alonggame.com . Our customers will soon be able to download our games via the internet from the website http://www.whatplay.cn .
